Unconventional Wisdom

Unconventional Wisdom reproduces three lectures about the state of economics in the 21st century, inspired by the life and work of the late John Kenneth Galbraith, a great Canadian and one of the most influential economists of all time. The lectures form the first works related to a new biennial prize in economics, established by the Progressive Economics Forum, in Galbraith’s honour.

The first award of the John Kenneth Galbraith Prize in Economics in 2008 was shared by Kari Levitt and Mel Watkins, two distinguished scholars of Canadian political economy. Their contributions are reviewed and introduced by Jim Stanford.

Together, these essays offer readers an accessible peek under the hood of the “conventional wisdom” (a term coined by John Kenneth Galbraith) of conventional economics. The authors tell us what went wrong, and how the profession can be made relevant again. It is a fitting tribute to the life of an intellectual giant.